French retailers turn to government after weekend of riots and looting
After weekend protests in France marked by widespread looting, business representatives held a crisis meeting with the government. The tourism sector fears fewer winter holiday bookings, while traders are selling French debt and the euro.
In France, representatives of the business community have gathered for a crisis meeting with the government after widespread looting during protests over the weekend. The France 24 television channel reported on it in its business programme on 19 October. The fallout is being felt in retail, tourism and the financial markets alike.
Meeting with the government
French business representatives met government officials to discuss the situation after looting hit commercial premises during the protests. The source does not specify which cities or companies were affected, nor the scale of the losses, so those details remain unknown for now.
Concern in the tourism sector
France's tourism sector fears a drop in bookings for winter holidays. The industry is therefore already assessing how the unrest could affect demand for travel to the country in the coming months.
Reaction in financial markets
At the same time, bond and currency traders are selling off French government debt and the euro. Selling debt means investors are getting rid of securities issued by the state, while selling the euro involves trades in the shared European currency.
Overall, the weekend's events are affecting three areas at once: retail, tourism and financial markets. The source gives no information on what decisions the government may take following its talks with business leaders.
